Charles Esther
Webull has officially launched crypto trading services in Australia, just days after relaunching its crypto offerings in the United States.
Partnership with Coinbase Prime
The platform will provide access to 240 cryptocurrencies through a partnership with Coinbase Prime.
Rob Talevski, CEO of Webull Securities Australia, said this move aligns with the company’s mission to give Australian investors freedom in trading across different digital assets.
US Crypto Relaunch
Webull reintroduced its crypto platform in the US on Monday, following a two-year absence after exiting the market under the Biden administration in 2023.
At the time, the exit coincided with the company’s IPO plans, but the relaunch reflects a more favorable regulatory environment for digital assets.
Plans for Global Expansion
Webull CEO Anthony Denier told Bloomberg that the initial removal of crypto services in the US did not align with customer expectations.
He confirmed that the company aims to expand crypto offerings to additional regions over the coming months, after previously introducing services in Brazil earlier this year.
Stock Performance
Shares of Webull (BULL) fell 2.67% on Monday and remained nearly flat on Tuesday, closing with a minor gain under 0.3% at $15.
Over the last five trading days, BULL has increased by 1.25%.
Australian Industry Context
Webull’s entry into the Australian crypto market comes amid concerns that the country is lagging behind global crypto developments.
Industry leaders have urged the re-elected Labor government to prioritize legislation for digital assets to keep Australia competitive internationally.
Joy Lam, Binance’s head of global regulatory and APAC legal, emphasized the urgency of timely regulatory action, noting that discussions have been ongoing for several years.
